Archive for the 'News' Category
April 28th, 2010 by admin
- New York tops the ranking of the most influential cities in the world, ousted from that position in London, ranked number one in the past year.
- Best positive momentum in the past year has shown, Berlin, moved up in ranking of top five positions (from 13 th to 8 th place), in particular by strengthening the position of the indicators “political influence” and “quality of life.”
- Major Asian centers – Beijing, Singapore and Shanghai have also strengthened their positions in the ranking due to the positions of “economic impact” and “political influence”.
- Trend from West to East “continues, but some developed cities have also demonstrated good dynamics – have improved their position in Brussels, Sydney and Boston due to very high ratings on indicators of” quality life “and” intellectual capital “.
- Moscow lost 2 positions in the rankings, dropping from 20 to 22 th place. Indicators “political influence” Moscow is located at 31 th place, “intellectual capital” – a 23 th place, “quality of life” and “economic impact” – on the 19 th place.
- Rating of political influence is headed by Washington (# 12 in overall rating), ratings of economic power and intellectual capital – New York (# 1). The quality of life in the first place, Singapore (# 7).
Igor Roganovich, Director of Elite Real Estate, Knight Frank:
Study of major world cities conducted by Knight Frank for the second year in a row, seeks to create the most comprehensive portrait of 40 cities in the world, treating them with positions that do this or that city attractive to attract international capital.
According to research, New York topped the rating, replacing the first position as a leader last year in London. Of all the major financial centers of the British capital most affected during the economic crisis. In addition, the independent international investors are also concerns about the previously relatively stable tax regime of the city.
Despite that castling on the top ranking, the gap between the four leaders (New York, London, Paris and Tokyo) and other cities is significant that gives reason to believe that fast-growing city, claiming the leadership, will not soon be able to seriously shake the positions of the leaders today.
As expected, the key trend of last year was the strengthening of the position of dynamic Asian centers – very good performance in Beijing, Singapore, Shanghai, Kuala Lumpur and Mumbai. They improved their performance on the indicator of political influence, as well as economic activity, primarily due to the fantastic growth of activity of the financial sector in Shanghai and Beijing.
But even among the cities of the developed economies, too, has its success stories. In particular, excellent results have shown, Berlin, Brussels, Sydney and Boston. In the case of Berlin, the capital of Germany, claim credit for political influence within the EU, strengthening its leading position as the leading economy in the euro area, as well as increasing cultural and intellectual influence in Europe and worldwide.
On indicators such as economic and political influence, high-growth centers reinforce their positions. This year, China took 4 th place in the “political influence” following Washington, New York and Brussels, ahead of such “heavyweights” such as London, Paris and Tokyo. In addition, Singapore, Shanghai and Beijing have improved their position in terms of “economic activity”.
Nevertheless, the position of fastest growing centers of the world economy is still far behind on such indicators as quality of life and intellectual influence. These parameters are the trump cards in the hands of large cities developed fear – especially in the United States, northern Europe and Japan. Berlin, Paris, Zurich and Tokyo have improved their position on the “quality of life.”
In general, changes in the rankings last year, did not become for us a big surprise. The main cities of rapidly developing economies really claim to be political and financial influence in the world, based on what is their economic power. However, there are some nuances. To enter a number of cities where the most influential people of the world would want to be your primary or second home, the dynamic Asian centers will not be enough just to strengthen their political influence and good economic growth.
To qualify for the title of “most influential cities in the world, to strengthen positions on all fronts, it is clearly demonstrated in his time in Paris and Tokyo. Cities are now linked together – transport, communications, and, most importantly, ideas. The most influential people of the world want to be where ideas are formed and values that determine the development of the world in the years ahead.
March 5th, 2010 by admin
Last month, Toronto real estate board Commercial Members reported 606,076 square feet of leased space, a 28 per cent increase from the 472,663 leased square feet recorded in February of 2009.
“During the first two months of 2010, the GTA commercial real estate market has outperformed the same period in 2009,” said Commercial Council Chair Garry Lander. “Key economic indicators, including this week’s strong fourth quarter GDP result, suggest that the Canadian economy continues to improve and that economic growth is becoming better distributed across all sectors of the economy.”
“Look for positive results to continue in the commercial market, especially as we start to see more hiring in the Toronto area,” added Lander. Lease rates were mixed in February. Industrial space of all size categories fell seven per cent to $4.80 per square foot net (sfn) from the February 2009 figure of $5.17 per sfn. Commercial space traded for $20.89 per sfn, up 10 per cent from the $19.02 per sfn figure recorded last year. Leased office space also rose in price, trading for $12.95 per sfn, which is up 23 per cent from the February 2009 figure of $10.57 per sfn.
Sales Market Highlights
February 2010 saw Toronto real estate board Commercial Members 41 sales of IC&I properties, including 17 industrial buildings of all size categories which averaged for $52.89 per square foot. In comparison, non-MLS sources recorded a figure of $62.49 per square foot.
January 19th, 2010 by admin
Toronto real estate boards’ Commercial Members leased 5,829,559 square feet of space in 2009, including 334,290 square feet traded in December, Commercial Council Chair Garry Lander announced today. The 2009 figure was down 51 per cent from the 2008 total of 11,961,934. “Toronto commercial real estate market definitely felt the effects of the recession,” Mr. Lander noted. “Renewed economic growth suggests that the commercial real estate situation should start to improve in 2010. Sustained growth in the demand for commercial space will require recovery in both the domestic and export-driven components of our economy.”
Toronto industrial space in all size categories leased for $5.11 per square foot net (sfn), down five per cent from the $5.40 recorded in December of 2008. Commercial space traded for $13.69 per sfn, from the $14.63 per sfn figure seen during the same period last year, a six per cent decline. Only office space rose in value, up one per cent to $10.85 per sfn from last December’s $10.74 per sfn.
December 22nd, 2009 by admin
Europe’s biggest bank HSBC has agreed to sell its headquarters in Paris on funds belonging to private investors. As reports Bloomberg, the amount of the transaction amount to 400 million euros (574 million dollars).
Fund operated by French Properties Management to own a building HSBC head office on the Champs Elysees and the building on a nearby street. Transaction under the scheme “sale & leaseback” (sale with right to follow the lease of the building) will be closed in the first quarter of 2010. Rent headquarters of HSBC will be able to for nine years.
The fact that HSBC, experiencing a crisis due to financial constraints, will sell at once three headquarters (in London, Paris and New York) became known in March 2009. The newspaper The Times reported that the bank plans to earn a real estate 2,7 billion pounds sterling (about $ 4 billion). Analysts noted that the cost of these office complexes in the two years has decreased by almost 45 percent, and so the bank can earn on their sales, only 2,265 billion dollars. In particular, the experts stated that for the London headquarters of HSBC can get 1.2 billion dollars for Paris about 665 million, for high-rise in New York – 400 million dollars.
In October, HSBC has agreed to sell its headquarters in New York, an affiliate of the holding company IDB Group Israeli businessman Nochi Dankner. It was reported that 330 million dollars for high-rise area of about 80 thousand square meters of British bank will get cash. In November it became known that the principal London office of HSBC for 1.3 billion dollars will be sold to the South Korean National Pension Fund. Both deals are on the scheme “sale & leaseback”.
November 26th, 2009 by admin
Last month, Toronto Real Estate Commercial Members reported 625,841 square feet of leased space. This result was down 64 per cent from the 1,749,657 square feet recorded in October of 2008, but up two per cent over the September figure of 614,830, and the best monthly performance since May.
“While the commercial real estate market remains softer than last year, leading indicators are pointing toward better results as we move into 2010,” said Commercial Council Chair Garry Lander. “Business confidence is increasing, suggesting that many firms will be looking to increase output over the next year. This should lead to improved demand for commercial space.” Lease rates were mixed last month. Industrial space in Toronto (all size categories) leased for an average of $5.78 per square foot net (sfn), up six per cent from the $5.43 per sfn recorded in October 2008. Commercial space fell nine per cent to $14.74 per sfn from last October’s $16.16 per sfn figure. Finally, the rate for office space was $9.11 per sfn, a decline of 24 per cent from the $11.96 per sfn recorded during the same month last year.
November 8th, 2009 by admin
In October 2009, Greater Toronto %REALTORS® reported 8,476 sales, up 64 per cent from October 2008. The average price for October transactions was $423,559 – up by 20 per cent compared to the same month last year.
“Strong sales growth has occurred across many property classes – from price ranges that would attract firsttime buyers to luxury properties selling for over one million dollars,” said TREB President Tom Lebour.
“The highest rate of sales growth in October was experienced for properties selling for over $750,000 dollars. In contrast, luxury home sales declined at an above-average
rate last year.”
Year-to-date sales, at 74,721, were up nine per cent compared to the first ten months of 2008. Average price, at $392,264 was up by almost three per cent.
“After a short dip in the winter, the average home price in the GTA has rebounded because sales have been high relative to listings,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “Watch for listings to rebound in 2010 as home owners react to the strong sales and price growth experienced in the latter half of this year.”
October 19th, 2009 by admin
Toronto commercial lease number are in, it was reported that the number of space leased is up 12% in September 2009. It’s the first month that posted gains over 2008. It can be explained by the thought of an economic recovery which will happen at the end of 2009. As more new jobs are created the demand for commercial space goes right along with them. Good news all around.
August 10th, 2009 by admin
Recently Toronto real estate agents reported their sales figures for July 2009. It was a record high with 9967 sales up almost 28% from July 2008. Even the average price for a Toronto house was up by 6 percent from the same time last year.
Toronto Real Estate Board president said that households who are confident in todays economic situation took advantage of affordable prices in the Greater Toronto Area this summer. He also mentioned that the Toronto Real Estate market has been a positive change in todays economy, contributing to growth in Toronto and Canada in general.
Up to this point in the year the sales are a little down, just by 1.2% compared to the same time in 2008. Average Toronto house prices are down only by 0.5%. And that accounts for the slow start in the beginning of the year. Some belive that by the years end, the numbers will be much higher then in 2008.